Bessemer Group Inc. Sells 337,106 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Bessemer Group Inc. lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 92.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,788 shares of the financial services provider’s stock after selling 337,106 shares during the period. Bessemer Group Inc.’s holdings in Brookfield Asset Management were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BAM. Faithward Advisors LLC bought a new position in shares of Brookfield Asset Management in the fourth quarter worth $207,000. APG Asset Management N.V. bought a new position in Brookfield Asset Management in the 4th quarter worth about $11,700,000. FIL Ltd increased its stake in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after acquiring an additional 574,978 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after acquiring an additional 339,072 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Brookfield Asset Management by 2.3% during the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after acquiring an additional 447,642 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $48.31 on Tuesday. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a market cap of $79.10 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. The business has a 50 day moving average price of $51.70 and a 200-day moving average price of $53.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 132.58%.

Analysts Set New Price Targets

Several research analysts recently weighed in on BAM shares. Bank of America upgraded shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Thursday, April 10th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating on the stock. Jefferies Financial Group cut their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Scotiabank lowered their price target on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 7th. Finally, TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus price target of $57.15.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.